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The past history shows that 60% of employees prefer Starbucks brand coffee. A sample of 5 employees is selected, what is the probability that less than 3 prefer Starbucks?
The annual salary of an electrical engineer is given in terms of the years of experience by the table below. Find the equation of linear regression for the above data and obtain the expected salary for an engineer with 45 years of experience.
Describe different methods of establishing correlation between variables and provide an example of each. Discuss the advantages and disadvantages of each method and where each must be applied.
If the probability of making a two point shot is greater than the probability of making a three point shot, why do coaches allow some players to shoot the three point shot if they have the opportunity? Use expected value to explain your answer.
Use Random Number Generation (RNG) in Analysis ToolPak of Excel to generate n = 5 observations from the Normal distribution N(20, 5). Construct the 95% confidence interval for μ.
A producer of pleasure boats wants to maximize revenue during the next month. Two types of boats are sold, x1 and x2. Type x1 sells for $40,000 and type x2 sells for $30,000.
The Central Limit Theorem states that the sampling distribution of means is:
An assumption for a significance test of the correlation coefficient is that the populations, the variance of each variable is the same at each point of the other variable.
Let S be a random variable (not necessarily positive). Prove using Markov's inequality that for every p>0 and for every constant q,
Use the Standing data set to develop a point estimate of the number of minutes during an NFL game that players are standing around between plays. Round your answer to two decimal places. What is the sample standard deviation? Round your answer to ..
a) Find the marginal density of Y. b) Find E(X) HINT: What is E (X|Y=y) ?
A committe studying employer-employee relations proposed that a rating system be adopted. Each employee would rate his or her inmediate supervisor and in turn the supervisor would rate each employee.
Conduct the hypothesis test and provide the test statistic, critical value and/or P- value and state the conclusion.
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